Look for:

Our offer for

Podřízený dluhopis EGB Fix-To-Float/2024


ISIN:
AT000B120464

Date: 2019/11/14 00:00:00
Bid Ask
104.25 105.97
Difference 0.00% (0.00)

General attributes

Type of bondSubordinated bonds
Bond stylesubordinated
Issuer typefinancial institution
Country of issueAT
Current coupon3.300%
Coupon stylefloating
Coupon payment date2014/08/07
Coupon payment periodsemi annually
Yield to maturity p.a. (before capital gains tax)-
Value date2014/02/07
Maturity2024/02/07
Repayment value100.00
CurrencyCZK
Nominal value10,000
Capital gains tax-
Accrued Interest95.33
Investor tolerance5 (scale 1-7)
Last trading day2024/01/27

PDF Downloads

CZ FlyerPDF Download
Key Information DocumentPDF Download

Scale: ABS REL         Instrument

Add Benchmark:



The chart is composed of values which are the arithmetic average values of bid / ask (MID) from previous working day. Performances under 12 month have only little informative value. Information about previous performance does not guarantee future performance.
Source: Česká spořitelna, a. s.
Advantages Details you should be aware of

Why buy a subordinated bond?

  • It reflects the quality of the Erste Group Bank as a strong Central European bank, offering concurrently a higher yield compared to classical bond products.
  • Attractive fixed coupon of 4% per year in the first  two years.
  • Attractive floating coupon from 3.3 to 6% p.a. in the following years.
  • Regular annual disbursement of coupons.
  • The prices of bonds are usually given as the percentage of the nominal value. Purchase price means that the client is selling, selling price means that the client is buying.
  • Issue date: 7 February 2014
  • Currency: Czech crown (CZK)
  • Nominal value of a single bond: 10 000 CZK
  • Minimal investment: 1 piece
  • Bond maturity: 10 years
  • Coupon disbursement: twice a year
  • Fixed coupon (in the first two years): 4% p.a.
  • Floating coupon: from  the 3rd year of bond term
  • Floating interest-bearing: as per 6M PRIBOR
  • Maturity date: 7 February 2024
  • Brokerage fee: 100 CZK per instruction regardless of the amount of investment
  • Issuer: Erste Group Bank AG
  • Selling price: as per the current rates of Česká spořitelna

Description

Do you trust the financial strength of the Erste Group Bank and would you like to be part of the success of this renowned Central European financial group? The EGB Fix-To-Float/2024 Subordinated Bond with fixed as well as floating interest-bearing offers an interesting yield potential.

During its term, this Subordinated Bond offers its clients two types of coupons: fixed and floating. In the short-term horizon of two years, in the current low-interest environment it offers an above-standard fixed coupon of 4% p.a. In the following years until bond maturity, the yield will be derived from the development of the current market rate of six-month PRIBOR, the minimum coupon being 3.3% p.a. and the maximum bond yield disbursed being 6% p.a.

The  EGB Fix-To-Float/2024 Subordinated Bond is ideal for anybody who expects an increase of interest rates over a longer period of time.

What does “Subordinated” mean?
In case of liquidation or insolvency of the issuer, in this case the Erste Group Bank AG, any unsubordinated liabilities (such as mortgage bonds and senior bonds) would be first covered, and only then the funds of investors holding subordinated bonds would be paid out. With a view to this risk, subordinated bonds offer a higher yield as a reward.

Payment notes

  • In the first two years, the fixed interest rate of 4% p.a. shall be applied to the bond (fixed coupon).
  • In the following years, a floating interest rate shall be applied to the bond. The floating interest rate shall be determined every six months on the basis of the  current six-month PRIBOR  interbank interest rate, and shall range from the minimum of 3.3% p.a. to the maximum 6% p.a.
  • If the six-month PRIBOR is fixed in the range from 3.3 to 6%, the investor shall receive a coupon in the amount corresponding to this specific value.
  • If the six-month PRIBOR is fixed under 3.3% (e.g. 1%), the investor shall receive a coupon in the amount of 3.3% p.a.
  • If the six-month PRIBOR is fixed  above 6% (e.g. 8%), the investor shall receive a coupon in the amount of 6% p.a.
  • Coupons shall be disbursed on a six-monthly basis.

Settlement

  • The maturity date of the bond shall be 7 February 2024.
  • The disbursement of the yield as well as the nominal value shall be conducted by Česká spořitelna.
  • The bond purchase as well as sale settlement takes 3 business days.

Secondary market

  • Minimum purchased quantity: 1 piece.
  • Administration fee (for purchase or sale) shall be 100 CZK regardless of the amount of investment.
  • The bond may be sold also prior to its maturity date for the price specified by the current exchange rates table.

As of 1 August 2013 with the provision of state aid the principles are enforced as contained in the Communication from the Commission on the application of state aid rules to support measures in favour of banks in the context of the financial crisis (2013/C 216/01). According to these principles prior to the provision of aid for restructuring in any form, whether for the recapitalisation or rescue of impaired bank assets, all measures are to be taken for capital formation, including conversion of subordinated debts into equity. For subordinated debt holders these rules entail that they must contribute to reducing the capital shortfall, so their contributions can take the form of either a conversion of a bond to a share or a full write-down of their principal.


Underlying


Know-How

 
In our know-how area you can find all relevant details on the different types of bonds. The tutorial gives you selected information about the functionality of bonds and assists you in making your investment decision. In our glossary we explain the most important keywords and within the FAQ section you can find answers to the most common questions concerning this topic.

Find a branch...

Buy securities directly in a branch of Česká spořitelna.

Trade via George…

Enjoy the opportunity to trade selected securities online via George, the new banking.




Accept

We use cookies and web analysis software to give you the best possible experience on our website. By continuing to browse this website, you consent for these tools to be used. For more details and how to opt out of these, please read our Data protection policy.

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer